July 25 2012 – LawFuel.com Law Newswire – Dechert’s U.S. corporate lawyers have been very busy so far this summer, working on a variety of deals. The firm has represented several private equity houses, served as the lead on a “take private” transaction, acted as counsel to a target company, and done a series of acquisitions for a special purpose acquisition company (SPAC). Examples of some transactions during the first weeks of summer include:
One Equity Partners
Led by partner Derek Winokur, the firm is representing One Equity Partners in its $1.1B “take private” acquisition of M*Modal, a leading provider of clinical transcription services, clinical documentation workflow solutions, advanced cloud-based Speech Understanding™ technology and advanced unstructured data analytics. One Equity Partners is the private equity arm of JP Morgan Chase & Co.
Long-time Dechert client Graham Partners turned to the firm for advice in the acquisition of Henry Company, a leading manufacturer of roofing and building envelope products and systems, from the private equity firm AEA Investors and other minority shareholders. Henry Nassau and Jeffrey Legath led Dechert’s team on the transaction. With one of the largest manufacturing footprints in North America, Henry supplies roof coatings and cements, air and vapor barriers, underlayments, waterproofing products, spray foam, green roofing systems, and other building and do-it-yourself products.
In addition, Nassau and John LaRocca led a Dechert team that advised Graham Partners and its bedliner and protective coatings business, LINE-X, in the acquisition of Ground Effects, Ltd., a leading OEM designer and manufacturer of automotive accessories and provider of vehicle upfit services. The acquisition, which triples LINE-X’s sales, was 100% funded through cash and new senior debt facilities at LINE-X along with a seller note.
Dechert’s corporate team, led by James Lebovitz, represented Schramm, Inc. in its acquisition by GenNx360 Capital Partners. Schramm is a manufacturer of mobile land based drilling rigs used in a variety of demanding applications, including oil & gas drilling, mineral exploration, water and geothermal well drilling, and other drilling activities to depths of 15,000 feet. Notably, in 2010, a Schramm rig dubbed “The Miracle” completed the escape hole through which 33 Chilean miners were saved after being trapped underground in a collapsed mine.
Universal Business Payment Solutions Acquisition Corporation
Representing Universal Business Payment Solutions Acquisition Corporation (UBPS), a SPAC, a cross practice group team led by Lebovitz advised in its acquisition of three companies: Electronic Merchant Systems, a major credit and debit card sales organization; Jet Pay LLC (“JetPay”), a top-15 U. S. credit and debit card processor; and A D Computer Corporation (“AD Computer”) and Payroll Tax Filing Services, Inc. (“Payroll Tax Filing”), related payroll processing and tax filing companies. UBPS will acquire the three companies in a transaction valued at approximately $179M.